Mooncor Oil & Gas Corp. (TSXV: MOO.V) and Pinetree Capital Ltd. closed a securities purchase agreement they entered into March 26, the company said April 2.
Mooncor purchased 819,672 common shares of Pinetree, and also issued 10 million of its own units to Pinetree at five cents each, the company said, adding that the units were comprised of one common share and one share purchase warrant.
The share purchase warrants will allow one common share to be bought at 10 cents until April 1, 2016, the company added.
A four-month hold period on the shares issued to Pinetree expires August 2, the company said.
Calgary, Alberta-based Mooncor Oil & Gas Corp. explores and develops oil and natural gas properties across Canada.
Recommended Reading
US Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten
2024-04-10 - Pushing up heavy crude prices are falling oil exports from Mexico, the potential for resumption of sanctions on Venezuelan crude, the imminent startup of a Canadian pipeline and continued output cuts by OPEC+.
WTI Delivered to East Houston Hits Highest Premium in Nearly Three Years
2024-05-01 - Oil takeaway capacity from the Permian Basin will tighten next month due to scheduled pipeline maintenance.
The Secret to Record US Oil Output? Drilling Efficiencies—EIA
2024-03-06 - Advances in horizontal drilling and fracking technologies are yielding more efficient oil wells in the U.S. even as the rig count plummets, the Energy Information Administration reported.
What's Affecting Oil Prices This Week? (March 11, 2024)
2024-03-11 - Stratas Advisors expects oil prices to move higher in the middle of the year, but for the upcoming week, there is no impetus for prices to raise.
Oil Dips as Demand Outlook Remains Uncertain
2024-02-20 - Oil prices fell on Feb. 20 with an uncertain outlook for global demand knocking value off crude futures contracts.